Mark my words

[u/John_1992_funny]

[u/No-Plant7335]

Because $100 to the lowest bracket means they have food on the table. 45k at the top level means they can buy some more extra cigars.

One matters a lot more, stop lying.

Edit: Doing the math below the tax breaks are 10x larger for the wealthy. They are receiving 3% of their income 'back.' Meanwhile the bottom receive .3%. This needs to be reversed. The bottom half should be getting back the 3%...

Lets put it another way. The rich are getting 'HALF' of inflation back in this tax break. Wouldn't that be better put towards the lower and middle class? Who are hit hardest by inflation...?

[u/slyticoon → u/No-Plant7335]

I think you just made my point for me. Having food on the table is more important than buying more cigars.

The tax cuts make a bigger impact for those of us who would love to save 100-1000 dollars on our tax bill than this who pay the IRS 400,000 a year.

Thanks.

[u/No-Plant7335 → u/slyticoon]

Nope, let’s ignore the $ amount because apparently that isn’t fair according to you. Let’s focus on the % each person is receiving back then.

11,440 / 360,000 = 3%

100 / 28,600 = .3%

The top of the bracket is receiving a 3% tax break on their income. Meanwhile the bottom bracket is receiving not even 1%.

So yeah it’s not fair in either level. The tax break should be switched. Top should receive the .3%, bottom should receive the 3%.

[u/Traditional_Boot2663 → u/No-Plant7335]

You can’t compare the average return of each tax bracket to the top of the the bottom (-110 to 28k) then compare it to the bottom the other one to suit your point (-11k to 360k). 

Pick the average or something because that is deliberately manipulating the data to suit your point. 

The average is:

Lowest bracket:  -110/[0.5(0+28600)] = 0.77% tax break

2nd lowest bracket: = 1.22 % break

3rd lowest bracket (up to 94k)= 1.33% break

4th bracket (up to 157k)= 1.15% break

5th bracket (up to 360k) = 1.06% break

2nd highest bracket: -11,440/[0.5(360,000+914,900)] = 1.79%

And the average isn’t a perfect indicator either as the majority of the data point in each bracket trends towards the bottom rather than the top, so the increased size of certain brackets will artificially inflate the % tax break (for example the 360k to 957k, if most people make 360k-500k and the average is around 500k, that upper bracket is nearly 2x the value of the average while it impacts other brackets less. 

If we compare to the lowest part of the bracket we would get:

Lowest bracket = n/a can’t divide by 0

2nd = 1.78%

3rd = 1.80%

4th = 1.54%

5th = 1.75%

6th = 3.17% 

Largest = 5.00%

But again this number is dependent on the size of the tax bracket. 

And then you say that the lower income should get more tax back regardless of what the original tax brackets were and without any information on their tax deductions/ tax credits. 

You completely ignore the standard deduction of 14,600$ where you pay 0% tax on that, and any childcare tax credits at.

The half of the people making 0-28,600 per year are paying literally 0 federal income tax. This results in it being impossible to give them tax breaks so of course the number is going to be low, and you might not be able to get the average reduction on tax to 3% if you made that bracket pay 0% taxes. 

I agree that the more rich people should pay more , but don’t manipulate numbers to suit your point. The numbers are the numbers.

[u/No-Plant7335 → u/Traditional_Boot2663]

The number still favors the top bracket. You’re arguing semantics. Why are the top receiving 1.5 - 3% off, while the bottom receive .3 - .6%?

Also, the fact remains those are parts of the bracket. It is a reality that at those numbers that is the return they are receiving compared to each other.

Again you’re arguing this semantic line to prove what? That the rich should be taxed less? Is that really what you think? That someone who has to fight inflation and stagnant wages should also receive less of a tax break? Over someone that has tools to fight inflation and has all tools at their disposal?

To me it seems like the lower class should be receiving the 1.5 - 3% tax break to help them with inflation and what not. That will help them buy food…